The Bulls announced Tuesday the release of Andrew Bynum, who was acquired in a trade with the Cavaliers involving Luol Deng.

Bynum, 26, averaged 8.4 points, 5.3 rebounds and 1.2 blocks in 20 minutes per game over 24 appearances for Cleveland this season. He signed a two-year, $24.8 million contract with the Cavaliers in July, but his $12.6 million 2014-15 salary was non-guaranteed and his $12.3 million salary for 2013-14 was only partially guaranteed.

By waiving Bynum this week, Chicago avoids paying him $6.3 million, the remaining non-guaranteed portion of his contract, and moves below the luxury-tax line. Deng was on the books for $14.3 million this season, the final year of his current contract.

“The moves made today will put us in a better position to make the entire roster stronger for the future and to compete for a championship,” Bulls GM Gar Forman said in a statement announcing the trade.